LONDON (Thomson Financial) - Electrolux said it has launched an investigation into the future viability of its cooker factory in Spennymoor, UK, where profitablity has fallen sharply.
'Imports from countries with lower cost levels have intensified over the last few years ... Price erosion and intensified global competition has significantly undermined the profitability of the factory in Spennymoor which is why we need to review the operations there,' said Magnus Yngen, head of Electrolux Major Appliances Europe.
The plant makes cookers for the UK and Irish markets and has some 500 employees.
The review is scheduled to be completed in the fourth quarter. tf.TFN-Europe_newsdesk@thomson.com vlb/jms COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
'Imports from countries with lower cost levels have intensified over the last few years ... Price erosion and intensified global competition has significantly undermined the profitability of the factory in Spennymoor which is why we need to review the operations there,' said Magnus Yngen, head of Electrolux Major Appliances Europe.
The plant makes cookers for the UK and Irish markets and has some 500 employees.
The review is scheduled to be completed in the fourth quarter. tf.TFN-Europe_newsdesk@thomson.com vlb/jms COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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